The act of storing items that one would put in a fanny pack up the ass of ones self and/or in some cases the ass of another (sometimes willingly, sometimes not)
Yourself:
"$7.50 for a beer?! Fuck that! I'm fanny packing one in!"
The act of storing a cell phone with a google map app in your fanny pack while having sex. The app keeps track of speed, distance and duration for you.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2million.